Another trade finance deal marks progress in new areas of IIB’s activities
In the beginning of 2015, under its extended mandate the International Investment Bank started to develop trade finance operations for the benefit of its member states. The corresponding decision, which significantly increases the range of IIB’s activities, was adopted during the 102nd IIB Council Meeting in November 2014 in Sofia, Republic of Bulgaria.
Thus, on September 30, 2015 the Bank issued another trade finance deal, supporting export from the Slovak Republic to the Republic of Belarus. Other TF deals concluded this year also contributed to foreign trade operations of the Czech Republic, Hungary and Russia.
The aim of these transactions has been primarily to support export of various high-technology equipment from IIB’s member states. Promoting export-import operations, the Bank, in the first place, contributes to the development of trade relations between its shareholders and to their integration into the global economy as well as, crucially, to the growth of IIB members' exports to third countries, therefore substantially expanding geography of its activities. Moreover, through trade finance operations the IIB also strengthens its ties with leading banks active in its member countries, such as ČSOB (KBC Group) and Raiffeisen Bank International.
Currently there are several TF deals under review with the Czech Republic, Slovakia and Bulgaria. At the same time, the Bank is considering possible transactions in favour of financial institutions from third countries — People’s Republic of China, Republic of Korea, Turkey, Germany and other.
The IIB plans to continue developing trade finance and documentary operations, offering to clients from its member states as well as from third countries products and solutions, which are fully adjusted to the changing macroeconomic and geopolitical environment.